German power moves
May 23 (LNG) – Germany is planning new interference measures in energy markets. The country’s Minister for Economic Affairs and Climate Action, Robert Habeck, who represents the anti-capitalist Greens party in the Social Democrat-led coalition government, plans to introduce more left-wing measures by giving €4 billion ($4.3Bln) of permanent subsidies a year to energy-intensive industries in Germany.
However, the German Finance Ministry opposes Habeck’s interference in power and commodity markets and the current budget does not allow funds to be redirected to give subsidies to about 80 percent of Germany’s industrial sector. “This price will be calculated on the basis of the average exchange electricity price and then calculated down,” Habeck said. Analysts said that Germany was emerging as a leader of the European Union’s gradual move towards an anti-competitive grants and subsidies economy.
German LNG overshadowed by massive renewables plan to give up 2 percent of ‘Lebensraum’ to windmills
Germany, which is marginally increasing its LNG import plans to replace Russian natural gas, has also come up with a Greens Party-inspired move to give up at least 2 percent of German “Lebensraum” for onshore giant wind turbines.
